What Is the Difference Between a Company and a Corporation

question 60

Multiple Choice

What is the difference between a company and a corporation?

• A)A company is a type of corporation - one registered under the Corporations Act 2001 (Cth).
• B)A corporation, unlike a company, is an artificial entity separate from its members.
• C)There is no difference, and the terms can be used interchangeably.
• D)The term company is a more general term than 'corporation' and includes incorporated associations, body corporates, etc.

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Definitions:

Perfection by Attachment

Perfection by Attachment is a legal process in secured transactions under the UCC, ensuring a security interest attaches to the collateral and is enforceable against third parties.

Motor Vehicle

A self-propelled vehicle used for transporting passengers or goods on land.

Perfection

In legal contexts, this term often pertains to the steps required to protect a secured interest against claims from third parties.

Public Notice

An official announcement made to the public through available ways, including newspapers, official websites, or public bulletin boards.